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Changes to Deposits and Cheques

Update to Deposits - 31st December 2021

Regrettably, the increasing number in COVID positive and quarantine cases is severely impacting our operations and as a result, customers may be experiencing slower or disrupted service.  For this we truly apologise and assure that we are doing our utmost to limit such disruptions.  To minimise the inconvenience, please check whether your Branch has been impacted prior to visiting us on https://bov.com/content/bov-branches-covid.

We would also like to remind our customers that further to the Central Bank of Malta Directive No 17, as from the 1st January 2022, all local external bank cheques carry a maximum 6-day float instead of 3. This means that when you present other banks’ cheques to Bank of Valletta, these funds will be available  after not more than six working days.  Cash deposits are subject to a 3-day settlement cycle, meaning that cash deposits will be deposited in your account within 3 days from deposit.

We are sorry for any inconvenience this may cause to our customers and encourage the use of our digital channels such as BOV Cards, ATMs, Internet and Mobile Banking for faster and safer banking.

We thank all our customers for banking with us.   

 

 



Cheques

With effect from 1 July 2020, to eliminate unnecessary delays in queues, faster processing and reduce the risk of COVID-19 contagion, all ordered chequebooks will be sent by post. Chequebooks cannot be collected from Branches or any other BOV office.  Ordering and mailing of Chequebooks will incur a fee as listed in the Bank’s Tariff of Charges. Fee will be charged to the cheque account or any other account of the customer. This initiative is not related to CBM Directive.

Chequebooks are available in 20 or 40 cheques. The 100-leaf chequebook is no longer available and should one be ordered, a 40-leaf chequebook will be issued.

Deposits

Cash and cheque deposits will not be accepted by the Bank’s cashiers. Cash deposits are to be effected through the Bank’s ATMs and Night Safe Facilities. Cheques can be processed through the ATMs, Night Safe and Cheque Deposit (formerly known as Express Deposit) facilities. Customers who do not have a bank card will temporarily be able to deposit cash (bank notes) through the branch cashier, however, such customers are to apply for their free BOV Cashlink Card so future deposits are processed through ATMs.

Cash deposits in Night Safe or Bulk Deposit are to be presented separately from cheque deposits i.e. in separate bags/envelopes using separate deposit slips. For more info click here.

Deposits will be processed within a maximum of three working days from the date they are submitted through the Bank’s various channels.


Coins

Coins are not to be deposited in Night Safe and Bulk Deposits. Customers are kindly requested to place coins in specified amounts in Coin Bags, provided by the bank, according to the denomination on the coin bag and handed to the bank’s cashier or in the case of Bulk Deposit users to the respective Security Company. 


https://bov.com/content/bov-night-safe

List of Night Safe Deposit Facilities

List of ATMs which take Online Cash and Cheque Deposits

Central Bank of Malta Press Release

Central Bank of Malta Directive 17 

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Bank of Valletta p.l.c. is a public limited company regulated by the MFSA and is licensed to carry out the business of banking and investment services in terms of the Banking Act (Cap. 371 of the Laws of Malta) and the Investment Services Act (Cap.370. of the Laws of Malta).